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*citation needed. In economic terms, 2008 was basically yesterday. Everything I've read points to the erosion of the middle class being related to stagnant wag
by rconti 9y ago
*citation needed.
In economic terms, 2008 was basically yesterday. Everything I've read points to the erosion of the middle class being related to stagnant wages in real terms going back DECADES.
- ksec 9y agoYes, or 30 years ago. The curve just got a lot steeper in 2008. That is from a Global perspective, since US just export inflation to everywhere else. Basically every asset class, mainly property market has been rising much faster then wages. Yes technology has made things much more efficient, hence the much much slower price rise in food, transport, clothes. But the majority of living cost is housing, and that is a part technology has little to no effect on.